Royal Bank of Canada Increases AquaVenture (WAAS) Price Target to $22.00

AquaVenture (NYSE:WAAS) had its price objective boosted by Royal Bank of Canada from $21.00 to $22.00 in a research note published on Monday morning. The brokerage currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. JMP Securities upped their target price on AquaVenture from $22.00 to $24.00 and gave the company a buy rating in a research report on Thursday, August 9th. Lake Street Capital assumed coverage on AquaVenture in a research report on Friday, August 17th. They issued a buy rating and a $29.00 target price for the company. Citigroup set a $23.00 target price on AquaVenture and gave the company a buy rating in a research report on Monday. Zacks Investment Research cut AquaVenture from a buy rating to a hold rating in a research report on Thursday, September 6th. Finally, Raymond James cut AquaVenture from a strong-buy rating to an outperform rating and set a $22.00 target price for the company. in a research report on Tuesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $24.25.

NYSE:WAAS opened at $19.31 on Monday. The stock has a market cap of $455.33 million, a PE ratio of -19.70 and a beta of 1.03. AquaVenture has a 1 year low of $11.83 and a 1 year high of $20.49. The company has a quick ratio of 5.74, a current ratio of 6.17 and a debt-to-equity ratio of 0.49.

AquaVenture (NYSE:WAAS) last released its quarterly earnings data on Wednesday, November 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.11. The business had revenue of $36.80 million during the quarter, compared to analysts’ expectations of $34.10 million. AquaVenture had a negative return on equity of 7.34% and a negative net margin of 19.75%. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.28) EPS. As a group, research analysts forecast that AquaVenture will post -0.83 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers acquired a new stake in shares of AquaVenture in the 2nd quarter valued at about $164,000. Dimensional Fund Advisors LP acquired a new stake in AquaVenture during the 1st quarter worth approximately $174,000. Mycio Wealth Partners LLC acquired a new stake in AquaVenture during the 3rd quarter worth approximately $280,000. FMR LLC acquired a new stake in AquaVenture during the 2nd quarter worth approximately $243,000. Finally, A.R.T. Advisors LLC acquired a new stake in AquaVenture during the 1st quarter worth approximately $197,000. 35.14% of the stock is owned by hedge funds and other institutional investors.

About AquaVenture

AquaVenture Holdings Ltd. engages in the provision of water purification services. It operates through Seven Seas Water and Quench segments. The Seven Seas Water segment delivers treated bulk water to governmental, municipal, industrial, and hospitality customers. The Quench segment focuses in the rental and servicing of POU water filtration systems and related equipment, such as ice and sparkling water machines, and from the contracted maintenance of customer-owned equipment.

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Analyst Recommendations for AquaVenture (NYSE:WAAS)

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